In June, Richard Baker, chairman of a congressional sub-committee on capitalmarkets, insurance and government-sponsored enterprises, introduced legislation that would require investors to be given more information about mutual-fund fees and other features of the business, such as fund managers' pay.
And note too that whilst participants in the world capitalmarkets are important (and they are) it is recognised that the interests of other users of financial information are just as important, even if again practice has not followed principle.